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Midas letter

Goodness Growth (GDNS) is emerging to conquer New York’s recreational cannabis

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Recall Vireo Health International, Inc (CNSX: VREO, OTCMKTS: VREOF)? The company with proprietary branded cannabis products in environmentally friendly facilities and growing areas? They are now the flagship medical device brand within a portfolio of Goodness Growth Holdings Inc (CNSX: GDNS, OTCMKTS: GDNSF).

Vireo’s evolution into Goodness Growth reflects the evolution of its business from a predominantly early stage medical operator to a multi-state operator for the recreational and medical cannabis markets in the United States. Currently, its asset portfolio consists of strategic US assets in eight markets and operates 18 pharmacies in the United States.

The company’s strategy is to build brands with high-margin, proprietary products that secure margins in the long term. Goodness Growth intends to expand cultivation in Arizona and Maryland, with plans in New York and New Mexico to take advantage of recreational adoption. With this in mind, the company plans to add up to 10 new pharmacies by the end of 2022.

Goodness Growth recently announced GAAP revenue of $ 14.2 million for the second quarter – an increase of 16% compared to the second quarter of 2020.


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